Stock charts: Charts for the Indian Stock, Commodity and Forex Markets like NSE, BSE, MCX, Intraday NSE and MCX Charts.
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the lower border of the cloud (82.85). One of the previous maximums of Chikou Span line is expected to be a resistance level (83.25).
On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (82.57). The closest resistance level is Kijun-sen line (83.12).
On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see the beginning of the trend reversal. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (83.25) line and Stop Loss at the level of Kijun-sen line (82.85).
|Key Levels||82.57, 83.12|